Swan Energy approves preferential issue

The Board of Directors of Swan Energy Ltd at its meeting held on July 13, 2013, have accorded their consent to offer, issue and allot upto 1,55,90,000 Equity Shares of the Company of Rs. 2/- each, at a price being not lower than the minimum price calculated in accordance with the Regulations for Preferential Issue contained in Chapter VII of the SEBI (ICDR) Regulations as amended, on preferential basis to Non Promoters and Promoters companies on account of conversion of part of their advances upto Rs. 234 crores, subject to the approval of shareholders of the Company.

Shares of Swan Energy Ltd was last trading in BSE at Rs.111.50, down by Rs.1.30 or 1.15%. The stock hit an intraday high of Rs.114.40 and low of Rs.111.20.

The total traded quantity was 1.32 lakhs compared to 2 week average of 1.09 lakhs.

Source : Equity Bulls

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